World’s leading cryptocurrency exchange with BNB token – Binance has signed a Memorandum of Understanding (MoU) to explore the acquisition of the Brazilian brokerage Sim;paul Investimentos.
Sim;paul Investimentos is a Brazilian securities brokerage firm that is licensed by the Brazilian Central Bank and the Securities and Exchange Commission (CVM).
Binance would need approval from Brazilian regulators, including the central bank and CVM, to potentially acquire the brokerage firm – to expand the cryptocurrency and blockchain ecosystem in Brazil.
The exchange had suspended futures trading on its Brazilian website last year, to comply with local regulations.
Changpeng Zhao (CZ), founder, and CEO of Binance said, “In a fast-developing market like Brazil, crypto can transform and facilitate people’s lives and as such, we believe in full collaboration with local authorities – that Binance has a lot to contribute in developing the community and ecosystem in Brazil.”
In the recent news, Binance has been granted its first license to strengthen the company’s foothold in the Middle East by the Central Bank of Bahrain to operate as a crypto asset service provider in the kingdom.